Abstract: The financial crises caused a collapse in prices of
most asset classes, raising the attention on alternative investments
such as sukuk, a smaller, fast growing but often misunderstood
market. We study diversification benefits of sukuk, their correlation
with other asset classes and the effects of their inclusion in
investment portfolios of institutional and retail investors, through a
comprehensive comparison of their risk/return profiles during and
after the financial crisis.
We find a beneficial performance adjusted for the specific
volatility together with a lower correlation especially during the
financial crisis. The distribution of sukuk returns is positively skewed
and leptokurtic, with a risk/return profile similarly to high yield
bonds. Overall, our results suggest that sukuk present diversification
opportunities, a significant volatility-adjusted performance and lower
correlations especially during the financial crisis.
Our findings are relevant for a number of institutional investors.
Long term investors, such as life insurers would benefit from sukuk’s
protective features during financial crisis yet keeping return and
growth opportunities, whereas banks would gain due to their role of
placers, advisors, market makers or underwriters.
Abstract: Regardless of the manufacturing process used,
subtractive or additive, material, purpose and application, produced
components are conventionally solid mass with more or less complex
shape depending on the production technology selected. Aspects
such as reducing the weight of components, associated with the low
volume of material required and the almost non-existent material
waste, speed and flexibility of production and, primarily, a high
mechanical strength combined with high structural performance, are
competitive advantages in any industrial sector, from automotive,
molds, aviation, aerospace, construction, pharmaceuticals, medicine
and more recently in human tissue engineering. Such features,
properties and functionalities are attained in metal components
produced using the additive technique of Rapid Prototyping from
metal powders commonly known as Selective Laser Melting (SLM),
with optimized internal topologies and varying densities. In order to
produce components with high strength and high structural and
functional performance, regardless of the type of application, three
different internal topologies were developed and analyzed using
numerical computational tools. The developed topologies were
numerically submitted to mechanical compression and four point
bending testing. Finite Element Analysis results demonstrate how
different internal topologies can contribute to improve mechanical
properties, even with a high degree of porosity relatively to fully
dense components. Results are very promising not only from the
point of view of mechanical resistance, but especially through the
achievement of considerable variation in density without loss of
structural and functional high performance.
Abstract: The electric power supplied by a photovoltaic power
generation systems depends on the solar irradiation and temperature.
The PV system can supply the maximum power to the load at a
particular operating point which is generally called as maximum
power point (MPP), at which the entire PV system operates with
maximum efficiency and produces its maximum power. Hence, a
Maximum power point tracking (MPPT) methods are used to
maximize the PV array output power by tracking continuously the
maximum power point. The proposed MPPT controller is designed
for 10kW solar PV system installed at Cape Institute of Technology.
This paper presents the fuzzy logic based MPPT algorithm. However,
instead of one type of membership function, different structures of
fuzzy membership functions are used in the FLC design. The
proposed controller is combined with the system and the results are
obtained for each membership functions in Matlab/Simulink
environment. Simulation results are decided that which membership
function is more suitable for this system.
Abstract: Underwater acoustic network is one of the rapidly
growing areas of research and finds different applications for
monitoring and collecting various data for environmental studies. The
communication among dynamic nodes and high error probability in
an acoustic medium forced to maximize energy consumption in
Underwater Sensor Networks (USN) than in traditional sensor
networks. Developing energy-efficient routing protocol is the
fundamental and a curb challenge because all the sensor nodes are
powered by batteries, and they cannot be easily replaced in UWSNs.
This paper surveys the various recent routing techniques that mainly
focus on energy efficiency.
Abstract: This paper presents the hardware implemented and
validation for a special system to assist the unprofessional users of
car with back trailers. The system consists of two platforms; the front
car platform (C) and the trailer platform (T). The main objective is to
control the Trailer platform using the actuators found in the front
platform (c). The mobility of the platform (C) is investigated and
inverse and forward kinematics model is obtained for both platforms
(C) and (T).The system is simulated using Matlab M-file and the
simulation examples results illustrated the system performance. The
system is constructed with a hardware setup for the front and trailer
platform. The hardware experimental results and the simulated
examples outputs showed the validation of the hardware setup.
Abstract: An active slat is developed to increase the lift and delay
the separation for a DU96-W180 airfoil. The active slat is a fixed slat
that can be closed, fully opened or intermittently opened by a rotating
vane depending on the need. Experimental results show that the active
slat has reduced the mean pressure and increased the mean velocity
on the suction side of the airfoil for all positive angles of attack,
indicating an increase of lift. The experimental data and numerical
simulations also show that the direction of actuator vane rotation can
influence the mixing of the flow streams on the suction side and
hence influence the aerodynamic performance.
Abstract: The research conducted in early seventies apparently
assumed the existence of a universal decision model for union
negotiators and furthermore tended to regard financial information as
a ‘neutral’ input into a rational decision making process. However,
research in the eighties began to question the neutrality of financial
information as an input in collective bargaining rather viewing it as a
potentially effective means for controlling the labour force.
Furthermore, this later research also started challenging the simplistic
assumptions relating particularly to union objectives which have
underpinned the earlier search for universal union decision models.
Despite the above developments there seems to be a dearth of studies
in developing countries concerning the use of financial information in
collective bargaining. This paper seeks to begin to remedy this
deficiency. Utilising a case study approach based on two enterprises,
one in the public sector and the other a multinational, the universal
decision model is rejected and it is argued that the decision whether
or not to use financial information is a contingent one and such a
contingency is largely defined by the context and environment in
which both union and management negotiators work. An attempt is
also made to identify the factors constraining as well as promoting
the use of financial information in collective bargaining, these being
regarded as unique to the organisations within which the case studies
are conducted.
Abstract: A cleaner production project was implemented in a
bakery. The project is based on the substitution of the best available
technique for an obsolete leaven production technology. The new
technology enables production of durable, high-quality leavens.
Moreover, 25% of flour as the original raw material can be replaced
by pastry from the previous day production which has not been sold.
That pastry was previously disposed in a waste incineration plant.
Besides the environmental benefits resulting from less waste, lower
consumption of energy, reduction of sewage waters quantity and
floury dustiness there are also significant economic benefits. Payback
period of investment was calculated with help of static method of
financial analysis about 2.6 years, using dynamic method 3.5 years
and an internal rate of return more than 29%. The supposed annual
average profit after taxationin the second year of operation was
incompliance with the real profit.
Abstract: To practically apply vacuum insulation panels (VIPs)
to buildings or home appliances, VIPs have demanded long-term
lifespan with outstanding insulation performance. Service lives of
VIPs enveloped with Al-foil and three-layer Al-metallized envelope
are calculated. For Al-foil envelope, the service life is longer but edge
conduction is too large compared with the Al-metallized envelope. To
increase service life even more, the proposed double enveloping
method and metal-barrier-added enveloping method are further
analyzed. The service lives of the VIP to employ two enveloping
methods are calculated. Also, pressure increase and thermal insulation
performance characteristics are investigated. For the metalbarrier-
added enveloping method, effective thermal conductivity
increase with time is close to that of Al-foil envelope, especially, for
getter-inserted VIPs. For double enveloping method, if water vapor is
perfectly adsorbed, the effect of service life enhancement becomes
much greater. From these methods, the VIP can be guaranteed for
service life of more than 20 years.
Abstract: E-business technologies, whereby business
transactions are conducted remotely using the Internet, present
unique opportunities and challenges for business. E-business
technologies are applicable to a wide range of organizations and
small and medium-sized enterprises (SMEs) are no exception. There
is an established body of literature about e-business, looking at
definitions, concepts, benefits and challenges. In general, however,
the research focus has been on larger organizations, not SMEs. In an
attempt to redress the balance of research, this paper looks at ebusiness
technologies specifically from a small business perspective.
It seeks to identify the possible barriers that SMEs might face when
considering adoption of the e-business concept and practice as part of
their business process change initiatives and implementation. To
facilitate analysis of these barriers a conceptual framework has been
developed which outlines the key conceptual and practical challenges
of e-business implementation in SMEs. This is developed following a
literature survey comprised of three categories: characteristics of
SMEs, issues of IS/IT use in SMEs and general e-business adoption
and implementation issues. The framework is then empirically
assessed against 7 SMEs who have yet to implement e-business or
whose e-business efforts have been unsatisfactory. Conclusions from
the case studies can be used to verify the framework, and set
parameters for further larger scale empirical investigation.
Abstract: Images are important source of information used as
evidence during any investigation process. Their clarity and accuracy
is essential and of the utmost importance for any investigation.
Images are vulnerable to losing blocks and having noise added to
them either after alteration or when the image was taken initially,
therefore, having a high performance image processing system and it
is implementation is very important in a forensic point of view. This
paper focuses on improving the quality of the forensic images.
For different reasons packets that store data can be affected,
harmed or even lost because of noise. For example, sending the
image through a wireless channel can cause loss of bits. These types
of errors might give difficulties generally for the visual display
quality of the forensic images.
Two of the images problems: noise and losing blocks are covered.
However, information which gets transmitted through any way of
communication may suffer alteration from its original state or even
lose important data due to the channel noise. Therefore, a developed
system is introduced to improve the quality and clarity of the forensic
images.
Abstract: In the UK, flooding is responsible for significant
losses to the economy due to the impact on businesses, the vast
majority of which are Small and Medium Enterprises (SMEs).
Businesses of this nature tend to lack formal plans to aid their
response to and recovery from disruptive events such as flooding.
This paper reports on work on how an agent-based model (ABM) is
being developed based on interview data gathered from SMEs at-risk
of flooding and/or have direct experience of flooding. The ABM will
enable simulations to be performed allowing investigations of
different response strategies which SMEs may employ to lessen the
impact of flooding, thus strengthening their resilience.
Abstract: A key issue in seismic risk analysis within the context
of Performance-Based Earthquake Engineering is the evaluation of
the expected seismic damage of structures under a specific
earthquake ground motion. The assessment of the seismic
performance strongly depends on the choice of the seismic Intensity
Measure (IM), which quantifies the characteristics of a ground
motion that are important to the nonlinear structural response. Several
conventional IMs of ground motion have been used to estimate their
damage potential to structures. Yet, none of them has been proved to
be able to predict adequately the seismic damage. Therefore,
alternative, scalar intensity measures, which take into account not
only ground motion characteristics but also structural information
have been proposed. Some of these IMs are based on integration of
spectral values over a range of periods, in an attempt to account for
the information that the shape of the acceleration, velocity or
displacement spectrum provides. The adequacy of a number of these
IMs in predicting the structural damage of 3D R/C buildings is
investigated in the present paper. The investigated IMs, some of
which are structure specific and some are non structure-specific, are
defined via integration of spectral values. To achieve this purpose
three symmetric in plan R/C buildings are studied. The buildings are
subjected to 59 bidirectional earthquake ground motions. The two
horizontal accelerograms of each ground motion are applied along
the structural axes. The response is determined by nonlinear time
history analysis. The structural damage is expressed in terms of the
maximum interstory drift as well as the overall structural damage
index. The values of the aforementioned seismic damage measures
are correlated with seven scalar ground motion IMs. The comparative
assessment of the results revealed that the structure-specific IMs
present higher correlation with the seismic damage of the three
buildings. However, the adequacy of the IMs for estimation of the
structural damage depends on the response parameter adopted.
Furthermore, it was confirmed that the widely used spectral
acceleration at the fundamental period of the structure is a good
indicator of the expected earthquake damage level.
Abstract: The present study was conducted to evaluate the
potential applicability of biological trickling filter system for the
treatment of simulated textile wastewater containing reactive azo
dyes with bacterial consortium under non-sterile conditions. The
percentage decolorization for the treatment of wastewater containing
structurally different dyes was found to be higher than 95% in all
trials. The stable bacterial count of the biofilm on stone media of the
trickling filter during the treatment confirmed the presence,
proliferation, dominance and involvement of the added microbial
consortium in the treatment of textile wastewater. Results of
physicochemical parameters revealed the reduction in chemical
oxygen demand (58.5-75.1%), sulphates (18.9-36.5%), and
phosphates (63.6-73.0%). UV-Visible and FTIR spectroscopy
confirmed decolorization of dye containing wastewater was ultimate
consequence of biodegradation. Toxicological studies revealed the
nontoxic nature of degradative metabolites.
Abstract: Oases are complex and fragile agro-ecosystems. They
have always existed in environments characterized by an arid climate,
scarcity of rainfall, high temperatures and high evaporation. These
palms have grown up despite the severity of the physical
characteristics thanks to the water's existence and irrigation practice.
The oases are generally spread along non-perennial rivers (wadis),
shallow water table or deep artesian groundwater. However, the
sustainability of oasis system is threatened by water scarcity and
declining of water table levels particularly in arid areas. Located in
the southern east area of Morocco, Tafilalet plain encompasses one of
the largest palm groves in the kingdom. In recent years, this area has
become increasingly threatened by water shortage and has seen a
sharp deterioration under the effect of several combined
anthropogenic and climatic factors. The Bayoud disease, successive
years of drought, Hassan Addakhil dam construction etc are all
factors that have affected both water and phoenicicole heritage of the
area. The objective of this study is to understand the interaction
between qualitative and quantitative degradation of groundwater
resources, and the palm grove dynamics, while reviewing the
assumption that groundwater resources contribute in a direct way to
the conservation of this oasis agroecosystem. A historical analysis
tracing both the oasis dynamics and the groundwater evolution has
been established. Data were collected from satellite images, surveys
with different actors (farmers, Regional Office for Agricultural
Development, Basin agency...). They were complemented by a
synthesis of numerous technical reports in the area. The results
showed that within 40 years, the thickness of the groundwater table
has dropped in 50 %. Along with this, there has been a downsizing of
date palm by 50 %. Areas with higher groundwater level were the
least affected by the downsizing. So we can say that the shallow
groundwater contribute significantly and directly to the water supply
of date palm through its root system, and largely ensures the oasis
ecosystem sustainability.
Abstract: Particles are the most common and cheapest
reinforcement producing discontinuous reinforced composites with
isotropic properties. Conventional fabrication methods can be used to
produce a wide range of product forms, making them relatively
inexpensive. Optimising composite development must include
consideration of all the fundamental aspect of particles including
their size, shape, volume fraction, distribution and mechanical
properties. Research has shown that the challenges of low fracture
toughness, poor crack growth resistance and low thermal stability can
be overcome by reinforcement with particles. The unique properties
exhibited by micro particles reinforced ceramic composites have
made them to be highly attractive in a vast array of applications.
Abstract: This article is deal with the experimental
investigations of the laser diode matrixes (LDM) based on the
AlGaAs/GaAs heterostructures (lasing wavelength 790-880 nm) to
find optimal LDM parameters for active vision systems. In particular,
the dependence of LDM radiation pulse power on the pulse duration
and LDA active layer heating as well as the LDM radiation
divergence are discussed.
Abstract: Two Lithium Disilicate (LD) glass ceramics based on
SiO2-Li2O-K2O-Al2O3 system were prepared through a glass melting
method. The glass rods were then fabricated into dental crowns via a
hot pressing at 900˚C and 850˚C in order to study the effect of the
pressing temperatures on the phase formation and microstructure of
the glasses. Different samples of as cast glass and heat treated
samples (600˚C and 700˚C) were used to press for investigating the
effect of an initial microstructure on the hot pressing technique. Xray
diffraction (XRD) and scanning electron microscopy (SEM) were
performed to determine the phase formation and microstructure of the
samples, respectively. XRD results show that the main crystalline
structure was Li2Si2O5 by having Li3PO4, Li0.6Al0.6Si2O6, Li2SiO3,
Ca5 (PO4)3F and SiO2 as minor phases. Glass compositions with
different heat treatment temperatures exhibited a difference phase
formations but have less effect during pressing. SEM micrographs
showed the microstructure of Li2Si2O5 as lath-like shape in all
glasses. With increasing the initial heat treatment temperature, the
longer the lath-like crystals of lithium disilicate were increased
especially when using glass heat treatment at 700˚C followed by
pressing at 900˚C. This could be suggested that LD1 heat treatment at
700˚C which pressing at 900˚C presented the best formation by the
hot pressing and compiled microstructure.
Abstract: To evaluate the factors which predetermine the
coronary artery disease in patients having positive Exercise Tolerance
Test (ETT) that is treadmill results and coronary artery findings. This
descriptive study was conducted at Department of Cardiology,
Ibrahim Cardiac Hospital & Research Institute, Dhaka, Bangladesh
from 1st January, 2014 to 31st August, 2014. All patients who had
done ETT (treadmill) for chest pain diagnosis were studied. One
hundred and four patients underwent coronary angiogram after
positive treadmill result. Patients were divided into two groups
depending upon the angiographic findings, i.e. true positive and false
positive. Positive treadmill test patients who have coronary artery
involvement these are called true positive and who have no
involvement they are called false positive group. Both groups were
compared with each other. Out of 104 patients, 81 (77.9%) patients
had true positive ETT and 23 (22.1%) patients had false positive
ETT. The mean age of patients in positive ETT was 53.46± 8.06
years and male mean age was 53.63±8.36 years and female was
52.87±7.0 years. Sixty nine (85.19%) male patients and twelve
(14.81%) female patients had true positive ETT, whereas 15
(65.21%) males and 8 (34.79%) females had false positive ETT, this
was statistically significant (p
Abstract: Augmented Reality is a technology that involves the
overlay of virtual content, which is context or environment sensitive,
on images of the physical world in real time. This paper presents the
development of a catalog system that facilitates and allows the
creation, publishing, management and exploitation of augmented
multimedia contents and Augmented Reality applications, creating an
own space for anyone that wants to provide information to real
objects in order to edit and share it then online with others. These
spaces would be built for different domains without the initial need of
expert users. Its operation focuses on the context of Web 2.0 or
Social Web, with its various applications, developing contents to
enrich the real context in which human beings act permitting the
evolution of catalog’s contents in an emerging way.